VNT manages to retain leading positions at Ventspils port

Photo: vnt.lv.

2017 for Baltic States was largely associated with a massive decline in transit cargoes. Nevertheless, Ventspils nafta terminals (VNT) has managed to retain leading positions at Ventspils port by transshipping 6.9 million tonnes of cargoes. This volume is equal to 65% of all liquid cargoes handled in Ventspils and 41% of all liquid cargoes handled in Latvia, as noted by the company.

According to VNT, the terminal has realized multiple development projects in the past twelve months and continues realizing new ones worth more than EUR 14 million. As one of the largest employers in Kurzeme and an important company in the region, VNT provided support to multiple organizations and many public development projects in Ventspils in 2017.

«Our results for last year were below our initial estimates. Our volumes were affected by the massive cargo decline from Russia, which is associated with restrictions on railway freight from Russia to Latvian ports, affecting all of the country’s terminals. We have worked all-year-round on solutions to make our activities more efficient and help expand the range of our services. In spite of market challenges, we have managed to provide a great deal of support to society, which is important when making a sustainable and socially responsible business,» says VNT director general Lars Pantzlaff.

The company adds that focus in 2018 will be put on installation of vapour recovery unit. «We expect work to conclude before May 2018. Technical projects bearing investments worth more than EUR 14 million will allow VNT to form new foundations for business development under new market conditions and maintain leading positions among Baltic terminals.»